And, the reason why most people sell the property outright is that there is an immediate need for money, an immediate need for your attention to be with your parent, and no time and money to make the rehab needed to tenant ready the property, much less to learn how to successfully landlord. 

Alternatively, consider furnished rentals, particularly for students in medical programs or those undergoing residencies.

I posted a series of comments in this Bigger Pockets feedhttps://www.biggerpockets.com/forums/925/topics/1164202-folsom-could-see-over-500-000-square-feet-of-new-doctor-s-offices-and-medical-clinics

Like anything else…more attention=more results

It serves as a designation for professionals actively involved in the oversight and operation of their rental portfolios.Summary of Requirements:To qualify for Real Estate Professional Status, investors must fulfill two key criteria:50% Rule: Allocate over 50% of all annual personal service hours to real property trades or businesses.750-Hour Threshold: Spend more than 750 hours materially participating in specified real property activities, including rental operations.Navigating these criteria demands meticulous attention to detail and a thorough understanding of IRS regulations.

Here are the details:Property: Purchased in Windsor Ontario for $350,000 in May 2023.Investment: Renovations/ repairs and other expenses totalling $60,000 with a down payment of $108,000 (from HELOC) and $5,000 in closing costs.Current mortgage left is 244k.Current Issues:•Foundation issues requiring attention.

This one caught my attention.

As a Landlord who has No Smoking policy, I understand that smoking weed is apart of that but what about Medical Marijuana?

What I determined a long time ago is that I need to focus my attention on what matters the most for my real estate investing business and that is finding and negotiating the deals.

Pay attention to those notices.